Transocean's Tender Offer for Its 6.625% Notes Due 2011 Expired
Transocean Inc. (NYSE:RIG) announced that its offer to purchase any and all of its outstanding 6.625% Notes due April 15, 2011 expired yesterday at 5:00 P.M. New York City time.
As of the expiration of the offer, a total of $534.4 million in aggregate principal amount of the Notes had been tendered for purchase, representing approximately 76.3% of the aggregate outstanding principal amount. Assuming a settlement date of July 22, 2005, the purchase price is $1,105.78 plus accrued interest of $17.85 (for a total of $1,123.63) for each $1,000 principal amount of Notes purchased in the offer.
Credit Suisse First Boston LLC acted as Dealer Manager for the
offer. The Information Agent was Global Bondholder Services
Corporation, and the Depositary was The Bank of New York.
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